where depreciation expense go in to balance sheet
do i need move depreciation expense in to retained earning? and how? thanks
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PatRigsby
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02/16/11 1:57pm PST
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Depreciation expense is booked as a debit to Depreciation Expense in the Income Statement and as a credit to Depreciation in the Fixed Asset section of the Balance Sheet.
Therefore, depreciation expense from the Income Statement automatically goes into Retained Earnings included with the net amount of al the income and expense items in the Income Statement.
